Flavorus EDM ticketing site sold to Vivendi for $4 Million in SFX asset auction

…SFX Entertainment continues to shed its various assets following its Chapter 11 bankruptcy filing in February, with the latest coming this week. The company announced in court documents signed yesterday (June 6) that after an auction conducted late last week, it had identified a $4 million bid from Vivendi Ticketing U.S. LLC as the “highest or otherwise best” offer to purchase its ticketing wing Flavorus Assets. A judge is expected to review the final bid June 8…

SFX originally paid $17 million for Flavorus in 2014. As Flavorus’ business appears to have remained stable if not increased in the past 2 years, it appears SFX substantially overpaid for this asset.